Middle East and Africa Healthcare Information Technology (IT) Market, By Solutions and Services (Solutions, HCIT Outsourcing Services and Others), Component Type (Software and Hardware), Delivery Mode (On-Premise and Cloud-Based), End Users (Providers and Payers) – Industry Trends and Forecast to 2030.
Middle East and Africa Healthcare Information Technology (IT) Market Analysis and Size
The healthcare information technology (IT) market is fuelled by biotech and pharmaceutical companies' increased R&D spending in the sector, resulting in adoption technologies that provide cost-effective solutions. The growing need for better data standardization is driving market growth. The increased number of clinical trials, particularly in emerging Asia Pacific countries, is creating opportunities for the market growth of healthcare information technology (IT) solutions. This is expected to be boosted further by pharmaceutical companies' adoption of EDC systems.
Data Bridge Market Research analyses that the healthcare information technology (IT) market which was USD 6.77 billion in 2022, is expected to reach USD 18 billion by 2030, at a CAGR of 13.0% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Middle East and Africa Healthcare Information Technology (IT) Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015 - 2020)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Solutions and Services (Solutions, HCIT Outsourcing Services and Others), Component Type (Software and Hardware), Delivery Mode (On-Premise and Cloud-Based), End Users (Providers and Payers)
|
|
Countries Covered
|
Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)
|
|
Market Players Covered
|
Oracle (U.S.), Parexel International Corporation (U.S.), OpenClinica, LLC (U.S.), IQVIA (U.S.), Dassault Systèmes (U.S.), Clario (U.S.), Signant Health (U.S.), Cerner Corporation (U.S.), McKesson Corporation (U.S.), General Electric (U.S.), Allscripts Healthcare, LLC (U.S.), Koninklijke Philips N.V. (Netherlands), Cognizant (U.S.), athenahealth, Inc. (U.S.), UnitedHealth Group. (U.S.), 3M (U.S.), Advantech Co., Ltd (Taiwan), Agfa-Gevaert Group (Belgium), Avantas, LLC. (U.S.), Avhana Health, Inc. (U.S.), BLACK BOOK RESEARCH, LLC (U.S.)
|
|
Market Opportunities
|
|
Market Definition
Healthcare Information Technology (IT) is the study of information technology and its applications in the healthcare industry. An information-based approach is used by studying and practicing to provide efficient healthcare delivery. The data is structured in such a way that it can be efficiently retrieved and used in an evaluation or report. Clinical informatics (IT) is used in a wide range of healthcare settings, including hospitals, research institutes, physician practices, the military, and others. Today's healthcare industry heavily relies on data and technology to provide better care to patients.
Middle East and Africa Healthcare Information Technology (IT) Market Dynamics
Drivers
- Increasing number of clinical trials
The growing number of clinical trials is propelling the global market forward. For instance, Clinical Trials, currently lists 430,269 studies with locations in all 50 states and 221 countries. Approximately 430,269 studies had been registered as of October 2022, with 55,700 studies having posted results. Over 332,694 interventions account for 77% of the 430,269 studies registered, while 95,884 observational studies account for 22% and nearly 857 are expanded access studies. These are the certain factors which helps the market to grow.
- Increasing R&D spending
Rising R&D spending is propelling the healthcare information technology (IT) market. According to UNESCO, global R&D spending has reached approximately US$ 1.7 trillion. Ten countries account for approximately 80% of spending. As a result, the rising number of clinical trials and R&D expenditures will drive the global healthcare information technology (IT) market during the forecast period.
Opportunities
- Government Initiatives
Using technology in clinical trials improves efficiency by allowing for better communication with study staff, patients, and communities, and it aids in the easy recruitment of clinical trial participants. People of all socioeconomic backgrounds are increasingly using digital clinical services due to their convenience. Market participants' efforts to develop efficient healthcare information technology (IT) platforms are helping to drive market growth. For instance, Mednet, a healthcare technology company, will release software with expanded electronic patient reported outcomes (ePRO) capabilities in December 2020. The ePRO module was created to increase patient engagement and allow for remote participation during the pandemic. In another case, in October 2020, Dassault Systèmes (OTCMKTS: DASTY) acquired Medidata Solutions, Inc. (NASDAQ: MDSO). These are the initiatives which help the market to grow.
Restraints/Challenges
- Data security risk and costs
Data security concerns and purchase and installation costs hamper the healthcare information technology (IT) market's growth. For instance, there is a constant risk of hacking, putting that data at risk. Furthermore, according to HealthIT Gov, the cost of purchasing and installing an electronic health record (EHR) system ranges between $15,000 and $70,000 per provider. As a result, the security risk and cost slow the growth of the healthcare information technology (IT) market during the forecast period.
This healthcare information technology (IT) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the healthcare information technology (IT) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Healthcare Information Technology (IT) Market
COVID-19 positively impacted the healthcare information technology (IT) market because there was no diagnostic modality or treatment for COVID-19, resulting in increased research and development because the virus was circulating at a rapid pace, resulting in an increase in clinical trials registered. For instance, on the World Health Organization's International Clinical Trials Registry Platform, there are approximately 6,512 ongoing and completed COVID-19 studies (WHO ICTRP). Furthermore, COVID-19 has encouraged the world to improve healthcare IT advancements in order to achieve better results. As a result, the healthcare information technology (IT) systems market is expected to grow.
Recent Developments
- In 2019, GENERAL ELECTRIC released SpinOculation C-Pro Protocol Software for cell therapy, allowing users to choose cell concentrations and volumes from initial cell preparation through transduction to final resuspension.
- In 2019, Koninklijke Philips N.V. and Paige collaborated to apply artificial intelligence in clinical pathology diagnostics. The resulting solutions strive for accuracy and speed in oncology diagnosis.
Middle East and Africa Healthcare Information Technology (IT) Market Scope
The healthcare information technology (IT) market is segmented on the basis of solutions and services, component type, delivery mode and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Clinical Data Management System (CDMS)
- Clinical Trial Management System (CTMS)
- Electronic Data Capture (EDC)
- Electronic Patient Reported Outcomes (ePRO)
- Electronic Trial Master File (eTMF)
- Randomization and Trial Supply Management (RTSM)
- Others
Application
- Lab Information Systems
- Clinical Information Systems
Healthcare Information Technology (IT) Market Regional Analysis/Insights
The healthcare information technology (IT) market is analyzed and market size insights and trends are provided by country, solutions and services, component type, delivery mode and end users as referenced above.
The countries covered in the healthcare information technology (IT) market report are Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
South Africa is expected to grow due to the rise in technological advancement in healthcare IT.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The healthcare information technology (IT) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for healthcare information technology (IT) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the healthcare information technology (IT) market. The data is available for historic period 2011-2021.
Competitive Landscape and Healthcare Information Technology (IT) Market Share Analysis
The healthcare information technology (IT) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to healthcare information technology (IT) market.
Some of the major players operating in the healthcare information technology (IT) market are:
- Oracle (U.S.)
- Parexel International Corporation (U.S.)
- OpenClinica, LLC (U.S.)
- IQVIA (U.S.)
- Dassault Systèmes (U.S.)
- Clario (U.S.)
- Signant Health (U.S.)
- Cerner Corporation (U.S.)
- McKesson Corporation (U.S.)
- General Electric (U.S.)
- Allscripts Healthcare, LLC (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Cognizant (U.S.)
- athenahealth, Inc. (U.S.)
- UnitedHealth Group. (U.S.)
- 3M (U.S.)
- Advantech Co., Ltd (Taiwan)
- Agfa-Gevaert Group (Belgium)
- Avantas, LLC. (U.S.)
- Avhana Health, Inc. (U.S.)
- BLACK BOOK RESEARCH, LLC (U.S.)
SKU-